s 288
In forceWhat is a pool of mortgages
Chapter 5Mortgage duty
Part 7Exemptions for mortgage duty
Division 2Asset-backed and mortgage-backed securities
Subdivision 1Some basic concepts for mortgage-backed securities
288 What is a pool of mortgages
(1)
A pool of mortgages is a pool or collection of assets that consists solely of mortgages.
(2)
Also, a pool of mortgages is a pool or collection of assets that consists substantially or, if another extent is prescribed under a regulation, to the extent prescribed, of mortgages or amounts paid under mortgages, or a combination of them, if the other assets in the pool or collection are cash or an authorised investment.
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